FXEMPIRE
All
Ad
Advertisement
Advertisement
Christopher Lewis
Add to Bookmarks
GBP/USD daily chart, September 03, 2018

The British pound has slumped during trading on Friday, as reports came out that somebody in France suggested that perhaps there wasn’t going to be a deal. We see this story before, and quite often what happens is some volatility reenters the market, and then the next thing you know good news comes across the wires and we turn right back around. I think at this point you need to look at a pullback as potential value, especially near the beginning of the impulsive candles that were formed earlier in the week, near the 1.2880 level. If we break down below that impulsive candle, then that would be very negative in the market will probably go looking towards 1.2750 level.

Advertisement
Know where GBP/USD is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

If we can break above the 1.3040 level, then it would be a fresh, new high, which of course is a very bullish signal. At this point, I’m not willing to start shorting this market, but I recognize that you’re going to have to approach buying this pair with extreme caution. Perhaps part of the selling is the fact that we are going into the weekend, and almost anything can happen. Markets are becoming more volatile due to fear yet again.

GBP/USD Video 03.09.18

Advertisement
Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker